Warner Bros. Discovery in the context of "Turner Broadcasting System"

New York City has been called the media capital of the world. The media organizations based in New York City are internationally influential and include some of the most important newspapers, largest publishing houses, biggest record companies, and most prolific television studios in the world. It is a major global center for the book, magazine, music, newspaper, and television industries. A 2019 Pew Research Center report found that 12 percent of all U.S. newsroom employees live in New York City, disproportionately higher than the 7 percent of the U.S. working-age population that lives in New York City.

New York is also the largest media market in North America (followed by Los Angeles, Chicago, and Toronto). Some of the city's media conglomerates include CNN (CNN Global), the Hearst Corporation, NBCUniversal, The New York Times Company, the Fox Corporation and News Corp, the Thomson Reuters Corporation, and Warner Bros. Discovery. Seven of the world's top eight global advertising agency networks are headquartered in New York. Three of the "Big Four" record labels are also headquartered or co-headquartered in the city. One-third of all American independent films are produced in New York. More than 200 newspapers and 350 consumer magazines have an office in the city and the book-publishing industry employs about 25,000 people.

A subsidiary, subsidiary company, or daughter company is a company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unlike regional branches or divisions, subsidiaries are considered to be distinct entities from their parent companies; they are required to follow the laws of where they are incorporated, and they maintain their own executive leadership. Two or more subsidiaries primarily controlled by the same entity/group are considered to be sister companies of each other.

Subsidiaries are a common feature of modern business, and most multinational corporations organize their operations via the creation and purchase of subsidiary companies. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, and Citigroup, which have subsidiaries involved in many different fields. More focused companies include IBM, Xerox, and Microsoft; they and their subsidiaries primarily operate within the tech sector. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries.

Cable News Network (CNN) is an American multinational news media company and the flagship namesake property of CNN Worldwide, a division of Warner Bros. Discovery (WBD). Founded on June 1, 1980, by American media proprietor Ted Turner and Reese Schonfeld as a 24-hour cable news channel and headquartered in Atlanta, Georgia, CNN is the first television channel to provide 24-hour news coverage and the first all-news television channel in the United States.

As of December 2023, CNN had 68,974,000 television households as subscribers in the United States. According to Nielsen, down from 80 million in March 2021. In June 2021, CNN ranked third in viewership among cable news networks, behind Fox News and MSNBC, averaging 580,000 viewers throughout the day, down 49% from a year earlier, amid sharp declines in viewers across all cable news networks. While CNN ranked 14th among all basic cable networks in 2019, then jumped to 7th during a major surge for the three largest cable news networks (completing a rankings streak of Fox News at number 5 and MSNBC at number 6 for that year), it settled back to number 11 in 2021 and had further declined to number 21 in 2022.

Concentration of media ownership, also known as media consolidation or media convergence, is a process wherein fewer individuals or organizations control shares of the mass media. Research in the 1990s and early 2000s suggested then-increasing levels of consolidation, with many media industries already highly concentrated where a few companies own much of the market. However, since the proliferation of the Internet, smaller and more diverse new media companies maintain a larger share of the overall market. As a result, many of the references below on this page are of declining relevance in comparison to the influence of digital media companies such as Meta, ByteDance or X.

Globally, some of the largest media conglomerates include Bertelsmann, National Amusements (Paramount Global), Sony Group Corporation, News Corp, Comcast, The Walt Disney Company, Warner Bros. Discovery, Fox Corporation, Hearst Communications, Amazon (Amazon MGM Studios), Grupo Globo (South America), and Lagardère Group.

Warner Bros. Entertainment Inc. (WBEI), commonly known as Warner Bros. (WB), is an American filmed entertainment and media corporation headquartered at the Warner Bros. Studios complex in Burbank, California, and the main namesake subsidiary of Warner Bros. Discovery. Founded on April 4, 1923, by four brothers, Harry, Albert, Sam and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games. It is one of the "Big Five" major American film studios and a member of the Motion Picture Association (MPA).

The company is known for its film studio division, the Warner Bros. Motion Picture Group, which includes Warner Bros. Pictures, New Line Cinema, Warner Bros. Pictures Animation, Castle Rock Entertainment and the Warner Bros. Television Group. Bugs Bunny, a character created for the Looney Tunes series, is the company's official mascot.

DC Comics (originally DC Comics, Inc., and also known simply as DC) is an American comic book publisher owned by Warner Bros. Discovery. DC is an initialism for Detective Comics, a comic book series first published in 1937. DC Comics is one of the largest and oldest American comic book companies, the first comic under the DC banner being published in 1937.

The majority of its published stories are set in the fictional DC Universe and feature numerous culturally iconic heroic characters, such as Superman, Batman, Wonder Woman, and the Flash; as well as famous fictional teams, including the Justice League, the Teen Titans, the Suicide Squad, and the Legion of Super-Heroes. The universe contains an assortment of well-known supervillains, such as Lex Luthor, the Joker, Darkseid, and the antiheroic Catwoman. The company has published non-DC Universe-related material, including Watchmen, V for Vendetta, Fables, and many other titles, under the alternative imprint Vertigo and DC Black Label.

TLC is an American premium multinational cable and satellite television network owned by the Networks division of Warner Bros. Discovery. First established in 1980 as The Learning Channel, it initially focused on educational and instructional programming. By the late 1990s, after an acquisition by Discovery, Inc. earlier in the decade, the network began to pivot towards reality television programming—predominantly focusing on programming involving lifestyles and personal stories—to the point that the previous name with "The Learning Channel" spelled out was phased out in favor of its initialism.

As of November 2023, with its programming primarily dedicated to the nine-series 90 Day Fiancé universe, comprising 31% of the shows carried by the channel, TLC is available to approximately 71,000,000 pay television households in the United States—down from its 2011 peak of 100,000,000 households.

Home Box Office (HBO) is an American premium television network and service, which is the flagship property of namesake parent-subsidiary Home Box Office, Inc., itself a unit owned by Warner Bros. Discovery. The overall Home Box Office business unit is based at Warner Bros. Discovery's corporate headquarters inside 30 Hudson Yards in Manhattan. Programming featured on the service consists primarily of theatrically released motion pictures and original television programs as well as made-for-cable movies, documentaries, occasional comedy, and concert specials, and periodic interstitial programs (consisting of short films and making-of documentaries).

HBO is the oldest subscription television service in the United States still in operation, as well as the country's first cable-originated television content service (both as a regional microwave- and national satellite-transmitted service). HBO pioneered modern pay television upon its launch on November 8, 1972: it was the first television service to be directly transmitted and distributed to individual cable television systems, and was the conceptual blueprint for the "premium channel", pay television services sold to subscribers for an extra monthly fee that do not accept traditional advertising and present their programming without editing for objectionable material. It eventually became the first television channel in the world to begin transmitting via satellite—expanding the growing regional pay service, originally available to cable and multipoint distribution service (MDS) providers in the northern Mid-Atlantic and southern New England, into a national television service—in September 1975, and, alongside sister channel Cinemax, was among the first two American pay television services to offer complimentary multiplexed channels in August 1991.